State service of Ukraine for geodesy, cartography and cadastre by letter № 6-28-0.222-600/2-24 dated 12.01.2024 informed the State Tax Service about annual indexation of the normative monetary valuation of lands for 2023.
Value of indexation coefficient of the normative monetary valuation of land for 2023 is 1.051, which must be used to calculate land payment and single tax (Group IV) during preparation of tax reporting for 2024.
Indexation coefficient of the normative monetary valuation of lands is applied cumulatively depending on date of the normative monetary valuation of lands (Paragraph 289.2 Article 289 of the Tax Code of Ukraine).
Please note that unlike the reporting tax periods of 2022 and 2023, indexation factor is applied to all categories of land in 2024.
In addition, the State service of Ukraine for geodesy, cartography and cadastre informed that certificates of the normative monetary valuation, which were generated automatically by software of the State Land Cadastre in a period from January 1 to January 15, 2024 do not contain indexation coefficient for 2023, therefore value of the normative monetary valuation of land specified in such certificates needs to be recalculated using coefficient for 2023. That is, the determined value in such certificates must be multiplied by a factor of 1.051.